Yahoo said on Wednesday it is not considering a sale of its core business, which stretches from search to media and communications apps.Maynard Webb, Yahoo chairman, said on a call with analysts:
There is no determination by the board to sell the company or any part of it. We believe the business remains very undervalued and we’re focused on realising that value.
Marissa Mayer, Yahoo’s chief executive, also insisted that she would continue to pursue a turnaround for the core business, saying she was aligned with the board and management and “unwavering in the mission”, writes Hannah Kuchler.
Although although people familiar with the matter told the Financial Times that a sale of the core business was one option, Yahoo said will instead push for a so-called reverse spin-off instead.
The move would accomplish the same objective as company’s initial plans (since rescinded) to spin off its Alibaba stake: Splitting the lucrative Alibaba stake and the Yahoo core business into separate entities.
Get alerts on Front page when a new story is published